THIS year's Budget was of the 'right size' to help the 'right group' of Singaporeans cope with the downturn.
At 8 per cent of the country's gross domestic product (GDP), the $20.5-billion Budget is higher than those of countries like Britain, Germany and even China. Furthermore, Singapore does not have to borrow externally to fund the initiatives, said Finance Minister Tharman Shanmugaratnam.
Wrapping up the Budget debate yesterday, Mr Tharman also addressed the concerns of some Members of Parliament who had wondered how effective Budget measures like the Jobs Credit Scheme would be for Singaporean workers and firms.
Mr Tharman said giving less subsidies to profitable companies was 'not the right approach', as that would weaken the strength of economic recovery.
Instead, he urged businesses to use the time to restructure, adding that 'every recession is an opportunity' for companies to become more viable.
On the topic of unemployment benefits, Mr Tharman felt the Government had measures 'similar in substance' to the six-month allowance that Workers' Party chairman and Non-Constituency MP Sylvia Lim had proposed.
These, he said, included the community development councils' Work Support Scheme and Spur training subsidies.
PARLIAMENTARY BRIEFS
Tripartite guidelines will help save costs and jobs
MEASURES recommended in the tripartite guidelines, such as shorter work weeks, will help companies manage wage costs and retain their workers, said Mr Hawazi Daipi, MP for Sembawang GRC. Businesses save time and costs from 'not having to hire workers and train them to get them up to speed', he said.
It also helps to keep workers' morale up, which is 'invaluable'.
Call for more jobs credit for health-care sector
SOME industries will continue to hire workers, said Dr Teo Ho Pin, Mayor for North West District and MP for Bukit Panjang.
In the health-care and social- service sectors, 'the demand for workers is very likely to be sustained as our population ages', he said.
He urged the FinanceMinister to consider expanding more job credit to these sectors.
Single-parent families excluded from policies
MANY assistance programmes have conditions that disqualify single- parent families, said Dr Lam Pin Min, MP for Ang Mo Kio GRC.
Single-parent families are seen as 'undesirable...entities' in some pro-family policies, he said. For example, to be eligible for a public-housing subsidy, applicants must prove that they are part of a family nucleus.
Budget boosts confidence but can still be improved
THE Budget has evoked confidence, said Miss Penny Low, MP for Pasir Ris-Punggol GRC.
But there is still room for the Government to enhance the Spur scheme and generate domestic demand, she said.
She added that the country's 'strong reserves had given us some ammunition' as the Government is drawing from 'past prudence and not future money'. - JOY FANG
